Willem A. Meintjes Sells 1,500 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at $7,818,537.36. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Marvell Technology Stock Up 2.2 %

Shares of MRVL opened at $69.81 on Thursday. The firm has a market cap of $60.46 billion, a P/E ratio of -41.06, a P/E/G ratio of 1.61 and a beta of 1.42. The stock has a 50 day simple moving average of $100.89 and a two-hundred day simple moving average of $93.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Institutional Trading of Marvell Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zweig DiMenna Associates LLC lifted its position in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new stake in Marvell Technology in the fourth quarter valued at approximately $637,000. RFG Advisory LLC lifted its position in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in Marvell Technology in the third quarter valued at approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. KeyCorp lowered their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Cantor Fitzgerald boosted their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lowered their price objective on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Roth Capital set a $100.00 price target on Marvell Technology in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.